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Facts
The assessee filed an appeal against the order of the National Faceless Appeal Centre for Assessment Year 2017-18. During the hearing, the assessee requested withdrawal of the appeal, having opted to settle the issue under the VSV Scheme, 2024.
Held
The Tribunal noted the assessee's request for withdrawal and the settlement under the VSV Scheme. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether the appeal can be withdrawn by the assessee on the grounds of opting for a settlement scheme.
Sections Cited
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “A” BENCH : BANGALORE
Before: SHRI. LAXMI PRASAD SAHU & SHRI. SOUNDARARAJAN K
Per Laxmi Prasad Sahu, Accountant Member :
This appeal filed by the assessee is against the Order passed by the National Faceless Appeal Centre (NFAC), vide DIN and Order No.ITBA/NFAC/S/250/2024-25/1070658508(1) dated 26.11.2024, for the Assessment Year 2017-18.
At the time of hearing, we noted that assessee has filed an application requesting for withdrawal of appeal vide his application dated 01.02.2025 in which it has been stated that the assessee has opted to settle the issue under VSV Scheme, 2024 and Form 2 of DTSV, 2024, has been received dated 16.01.2025.
Page 2 of 2 We noted from Form 2 issued by PCIT-2, Bangalore, that the payment of tax has been quantified. Considering the request of the assessee, we are dismissing this appeal as withdrawn giving liberty to the assessee to come in appeal before the Tribunal in case the issue is not resolved under VSV Scheme, 2024.
In the result, appeal filed by the assessee is dismissed as withdrawn.
Pronounced in the court on the date mentioned on the caption page.